Penzance Management, a private real estate owner, operator, developer, and investment fund manager, has planned a US$ 4 billion full-build capital investment in West Virginia for a digital infrastructure project that will deliver 600 MW of critical IT capacity. The project is centered on the company’s Bedington Campus in Berkeley County, West Virginia, covering 548 acres in the Falling Waters District and expected to reach 1.9 million square feet of development.
According to a press release, the Penzance’s campus will be West Virginia’s first High Impact Intelligence Center which would help position West Virginia in artificial intelligence, cloud computing, and advanced computing markets. The High Impact Intelligence Center designation required the project to exceed 90 MW of projected load and submit detailed engineering, environmental, and utility integration plans. Reviews were conducted by the state’s Data Economy Office and the Department of Commerce before approval.
Patrick Morrisey, Governor of West Virginia, said, “This US$ 4 billion investment is a historic win that proves West Virginia can compete at the highest level for the global tech economy, by earning the state’s first High Impact Intelligence Center designation, Penzance is helping us transform the Mountain State into a powerhouse for artificial intelligence and cloud computing.”
Victor Tolkan, Managing Partner and Founder, Penzance, said, “West Virginia has created a truly business-friendly environment for companies investing in digital infrastructure, initiatives like HB 2014 and the High Impact Intelligence Center program demonstrate a clear commitment to attracting and supporting world-class intelligence center development.”
Eddie Gochenour, Berkeley County Commission President, said, “We have already identified a significant opportunity to potentially utilize reclaimed water, which will lower costs for the company. The annual revenue generated by this project will further cement Berkeley County’s reputation as the premier destination to live and work in the Mountain State.”
The development was enabled by state energy and permitting legislation, including the Power Generation and Consumption Act and House Bill 2002, which expanded microgrid deployment, streamlined permitting through a one-stop portal, and allowed greater use of coal, natural gas, and other reliable energy sources. Under microgrid legislation, revenue generated by projects like the Bedington Campus would be allocated with 50 percent directed to a Personal Income Tax Reduction Fund, 30 percent to host counties, 10 percent distributed to all counties per capita, 5 percent to an Electric Grid Stabilization and Security Fund, and 5 percent to the Economic Enhancement Grant Program.
State investment commitments under the administration have reached more than US$ 10.5 billion in private-sector capital. Including federal programs such as the Broadband Equity, Access, and Deployment Program and the Rural Health Transformation Program, total commitments approach US$ 12 billion.